Former Deputy General Manager of JN Fund Managers Limited, Jermaine Deans, has been appointed the Managing Director of Cayman’s only building society, JN Cayman (a member of the Jamaica National Group). His appointment took place as at December 2019.
A press release from the firm said Mr Deans had been brought on board in Cayman to develop business strategies and plans to ensure high performance and the success of JN Cayman, as well as oversee all operations and business activities of the company.
Mr Deans, who has more than 17 years in the financial services industry with extensive experience working in the global financial markets, said his plan was to become more familiar with the various financial requirements of the people of Cayman in order to better provide for their needs.
“My main goal is to see how we can work to add additional functionalities to JN Cayman that are modern, that represent a new way of thinking, a new way of doing business and add value to the services that are already being offered here in the Cayman market, and by extension, the wider Caribbean,” he stated.
In his former role, Mr Deans worked as part of a team that revolutionised and expanded the services of the organisation, making it more competitive on the local and regional landscape, the press release advised.
He explained that when he started at JN Fund Managers in 2016, their portfolio had been very limited, but that during his tenure they were able to develop investment banking business and got deeper into asset management, eventually launching a mutual funds business. He said he could grow the JN Cayman business further also.
“I believe that despite the maturity of the Cayman financial market there are still services that we can offer that aren’t currently available. My goal, therefore, is to assess the market and to look at what is missing from the offerings and to find a way to introduce and spear head those services at JN Cayman, all within the context of our license as a building society,” Mr Deans said.
JN Cayman has been operating in the Cayman Islands for almost 28 years offering mortgage financing, as well as savings and fixed deposit accounts.
Mr Deans is also a lecturer in Portfolio Management and Financial Markets, and led the move to introduce classes in financial management to his staff, starting up a Friday class engaging staff members for an hour on finance related topics. He said this helped to not only build the confidence of staff members, but it also helped to increase unity and camaraderie among the team.
“I hope to also engender something similar here at JN Cayman, because this can only make us an even stronger team and I believe that this will redound to the benefit of our members,” he stated.
Mr Deans also plans to continue JN Cayman’s work in the community through the development of sports and the arts.